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Due to the oil strengthening the ruble is growing on Thursday

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Due to the oil strengthening the ruble is growing on Thursday

Due to the oil strengthening the ruble is growing on Thursday
September 01
10:30 2016

The slightly positive dynamics of the ruble at the beginning of Thursday is a reaction to the recovery of the oil price levels which showed their minimum during 2 weeks. The rise of oil is supported by the weak dollar, the growth of which has slowed down in the world markets.

The expectations of the Labor Statistics publication of the United States on Friday still limit the intensity of the market. On the basis of the statistics the Fed will decide on rates at the meeting on 20-21 September.

To the beginning of the day the currency pair dollar / ruble calculations “tomorrow” was trading around 65.24 at the Moscow stock exchange. It is 0.1 percent below the levels of the end of the session on Wednesday.

The euro calculation «tomorrow» was 72.67 rubles, which is 0.2 percent below the close of the previous trading session.

At the moment the cost of Brent is around $ 47.16 per barrel.

The rise in price of “black gold” on Thursday has happened due to the weakness of the US currency, which stopped its strengthening. In addition, a sudden increase in the manufacturing activity in China during last month is favoring the oil prices growth.

On Thursday morning the dollar remains stable against the basket of 6 currencies in the US financial markets. At the same time it is gaining 0.1 percent against the euro, but is losing the same amount against the Japanese currency. The cost of the currency pair EUR / USD is about $ 1.1145.

The market has focused attention on the expected Labor Statistics publication of the United States tomorrow. This reporting will become the basis for the US Federal Reserve in order to decide on the rates at the September meeting.

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